iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $145.00 at Truist Financial

iRhythm Technologies (NASDAQ:IRTC) had its price target hoisted by research analysts at Truist Financial from $111.00 to $145.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 20.91% from the stock’s previous close.

IRTC has been the subject of several other reports. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer raised their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Robert W. Baird cut their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.55.

iRhythm Technologies Stock Performance

NASDAQ:IRTC traded up $7.26 during mid-day trading on Friday, hitting $119.93. The stock had a trading volume of 998,083 shares, compared to its average volume of 423,203. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $128.52. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -24.76 and a beta of 1.29. The company’s 50 day simple moving average is $101.11 and its 200 day simple moving average is $83.27. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. On average, equities research analysts forecast that iRhythm Technologies will post -3.35 earnings per share for the current year.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares of the company’s stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.68% of the stock is currently owned by insiders.

Institutional Trading of iRhythm Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raiffeisen Bank International AG bought a new stake in shares of iRhythm Technologies during the fourth quarter worth $60,000. ProShare Advisors LLC lifted its holdings in shares of iRhythm Technologies by 52.1% during the fourth quarter. ProShare Advisors LLC now owns 8,988 shares of the company’s stock worth $810,000 after purchasing an additional 3,079 shares during the period. Nomura Holdings Inc. acquired a new position in iRhythm Technologies in the fourth quarter valued at $488,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in iRhythm Technologies by 5.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,349 shares of the company’s stock valued at $3,097,000 after buying an additional 1,743 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC acquired a new position in iRhythm Technologies in the fourth quarter valued at $607,000.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.